Hospital Operator Tenet Plans Buybacks

Hospital operator Tenet Healthcare Corp. announced several plans Monday aimed at speeding up growth and improving shareholder value, including acquisitions, share buybacks and a reverse-stock split.

The Dallas-based company plans to offer $800 million in new debt to fund deals and repay other borrowings. Tenet—which aims to add acute-care hospitals, outpatient facilities and business-process services—said its near-term acquisitions...